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Author Topic: Beware of PayPal and other reversible transfer services  (Read 576524 times)
Fahim2005
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April 26, 2020, 04:39:01 AM
 #821

We know PayPal is a most popular wallet for storing our assets.Money sent by using PayPal and any other money transfer services that accepts credit cards can be easily reversed by the senders ....so we must aware about using PayPal.What ever we should only accept PayPal in trades.
Thare are some other services that are actually not safe....
-AlertPay
-Moneypak
-Dwolla
-Bank transfers like ACH
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Easteregg69
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April 26, 2020, 04:44:45 AM
 #822

Paypal is a bunch of scammers. They will close your account and hold your money till your company is of the grid if chance given.

Don't start a company with paypal as only or even reliable payment solution!

PS. If you did. Get ready to be fucked.

Throw some "shit" and see what sticks.
hawaii88
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December 15, 2020, 03:36:26 AM
 #823

ive read on articles that many balances have been stolen on paypal and it keeps happening progressively. security system on paypal needs stronger layouts and continuous upgrade to prevent such  misfortune issues.
mr.relax
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December 16, 2020, 12:33:14 PM
 #824

Paypal doesńt even have 2FA.
They are amateurs,and i dont trust them.
why keeping  money there, thats giving them credit

OmegaStarScream
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December 18, 2020, 01:11:45 PM
 #825

Paypal doesńt even have 2FA.
They are amateurs,and i dont trust them.
why keeping  money there, thats giving them credit

They do have 2FA actually but that's no reason to keep your money there. Just like you shouldn't keep your bitcoin inside exchanges (regardless of the security measurements they have).

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December 19, 2020, 09:43:38 AM
Last edit: December 19, 2020, 10:03:00 AM by mr.relax
 #826

Yes I am surprised to find the 2FA option in the settings now. Dont know when they invented that. But that is good.
But any good financial page will force you to use 2FA, its default.
At paypal if you dont know they offer 2FA, you might not even know that exists...
in Germany any Online Bank HAS TO USE 2FA...No option without...

Well Dont keep your funds at 3rd parties as far as possible, thats still obvious, and right.
My personal experience with Paypal is very bad.
Scammers reversed incoming payments, so Paypal let them steal my money and  blocked my left funds, asked ridicoulous papers and proofs,
they kept my money for one year, after that they released it to me after a fierce email-fight, but kicked me for a lifetime.
So I am not really neutreal...I dont like them. They fucked me...
...and if a scammer uses paypal to reverse payments, they will never ever cover any loss, like a bank in some cases might do if your bankaccount was hacked.
No, another customer will pay,and thats normally the receiver of the funds.


Even without any reverse or scam, they do ask KYC questions even after funny small payments. Well after receiving 200USD, why should i explain where the money is from at for what goods. In Europe everyone has more cash any day in his wallet. Thats total insane.

If the payer has funded his Paypal with CC, PP will ALWAYS reverse the payment,if the payer does, even if they know for sure, its a scam...PP  NEVER shows responsible
.So to receive funds with paypal is too risky.

BTW, as a paymentprovider, PPs Fees are crazy high. So in one way or another, all customers pay that.
I dont support so greedy companies.

jerry0
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December 26, 2020, 11:04:06 PM
 #827

It would only be safe selling bitcoin for paypal only if you know that person right?


Also how long could someone reverse a paypal payment?
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December 27, 2020, 07:46:14 AM
 #828

yes, only if you know the person.
Its reversible 1 year.

jerry0
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January 04, 2021, 09:58:31 PM
 #829

yes, only if you know the person.
Its reversible 1 year.



Really?  So paypal reversible is up to one whole year?  I thought i read 6 months.
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January 05, 2021, 06:27:41 PM
 #830

Really?  So paypal reversible is up to one whole year?  I thought i read 6 months.

The problem lays in the source of the funds. Charging back shouldn't be possible if funds were sent as a gift unless of course, the PayPal balance was originally loaded from a bank account/credit card.

btcb3g1nn3r
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January 31, 2021, 09:39:18 PM
 #831

Maybe it fits here, paypal transaction history is not possible to be reported to financial institutions if you have a trace via topping the balance with bank account transfer/card payments? I guess those who're using it are using new accounts never connected with any bank?
jerry0
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January 31, 2021, 11:44:27 PM
 #832

What about cashapp and applepay?  If so, how many days can someone reverse it?
OmegaStarScream
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February 03, 2021, 11:35:48 AM
 #833

What about cashapp and applepay?  If so, how many days can someone reverse it?

They're both reversible. It may not be as easy as PayPal, but it's still possible.

As a rule: If the a payment method balance can be topped up using a credit card or a bank accont, then you shouldn't use it, not when dealing with BTC anyway.

Bisesh
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May 31, 2021, 03:06:55 PM
 #834

Thanks I was really going to do it but you warned me and save me thanks for your valuable information
The Pharmacist
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May 31, 2021, 09:34:20 PM
 #835

As a rule: If the a payment method balance can be topped up using a credit card or a bank accont, then you shouldn't use it, not when dealing with BTC anyway.
I know your post is a bit old, but I'll reply to it anyway since I'm here.  What you said is true in the vast majority of cases, but there are members here who can be trusted with PayPal and other reversible payment methods--you just have to know who's trusted (and that's the hard part).  For example, I've done a deal with you in the past if I'm not mistaken, and it's way past the chargeback time frame at this point.

Thanks I was really going to do it but you warned me and save me thanks for your valuable information
If you're new here, you definitely shouldn't be doing PayPal deals, even if you can find someone to trade with you.  Figure out who's trusted and who's not, and avoid dealing with other newbies if they're offering PayPal in exchange for bitcoin.  That's a great way to get scammed.

If PayPal starts letting you buy and sell bitcoin that you can deposit and withdraw, all of this should be a moot point (at least for PayPal; other reversible methods will remain risky). 

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